I'm Lucas Wysocki with your weekly look at Credit Card Rates. The average interest rate on a variable rate-credit card nosed higher this week, coming in at 14.95 percent, up 1 basis point since last week. For fixed rate cards, the average interest rate remained at 14.02 percent for the fifth straight week.
Americans seem to be more interested in paying down credit card debt than racking it up. The average American's credit card debt declined to 5-thousand 3-hundred and forty one dollars in October. That's down 1.3 percent from September.
In a low interest rate environment like todays, paying down high-interest debt can be more advantageous than heaping money into savings. But make sure you have a healthy emergency savings first, lest an unexpected bill undo all your hard work paying down your cards.
If you're ready to start paying down your debt, a low-interest balance transfer card might be a good first step. You can shop for those low interest cards, rewards cards and more right here at Bankrate.com. I'm Lucas Wysocki.
The average variable credit card rate increased to 15.16 percent.
A rewards card can earn you miles or points for every dollar you spend on your next trip.
Follow these tips to find the best deal on a rewards credit card.
The average interest rate on variable-rate cards inched higher.
Can a zero percent balance transfer credit card help cut high-interest debt?
Do you have a life insurance policy for your dependents? Is it enough?
Have fallen gas prices given Americans a reason to increase their discretionary income?
Not all items at dollar stores are good deals. But here are five finds that can be bargains.
You've still got plenty of time. Take advantage of tax-favorable vehicles such as a 401(k) plan and IRA.
Mortgage rates jumped for a second straight week.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.
A little research could save you BIG on interest.